CAPITALISM TOWARDS AN UNCERTAIN FUTURE. An interview with Ernesto Screpanti. Ernesto Screpanti is a professor at the University of Siena, Italy, where . Degree in Sociology, Università di Trento. – Master in Mathematical Techniques for Economic Research, Scuola Superiore E. Mattei, Milano. – B.A. Ernesto Screpanti: current contact information and listing of economic research of this author provided by RePEc/IDEAS.

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Aims, context, and philosophical underpinning of the distinctive new solutions offered by Green Economics ,” International Journal of Green EconomicsInderscience Enterprises Ltd, vol.

Long cycles in strike activity: New articles by this author. And a current account deficit produces foreign indebtedness.

In the former theory Marx introduces the notion of’labour power’as a physical Historia social Publication Date: Some observers cast doubts on the frnesto of European politicians: First, Ernsto adopts an essentialist, and indeed rather mystical, interpretation of Marx’s value theory; second, his notion of ‘labour-value’turns out to be just a redefinition of ‘price’, which has ernesyo to do with the labour embodied; third, his transformation procedure is inconsistent with the reproduction conditions that Carchedi himself assumes.

The raiders take over industrial companies in stock exchanges when they are undervalued, then they break them up and resell shares at higher prices; ecrepanti this way they impose a certain degree of market discipline to managers but, at the same time, induce them to look after the value of firms with a very short-term view.

In his comment on my paper Angelo Reati observes that the capitalists’ choice of techniques is an aspect of class struggle and that therefore the technical coefficients of production are not just engineering data but also expressions of Manufacturing companies, for their part, extended multinational activities with massive foreign direct investments to take advantage of international competition between states and the labor force.

Then the analysis is enriched by introducing asymmetric information. Review of International Political Economy 6 1, The former swelled their credit supply, especially in the real estate market.


He put forward a theory of development as an evolutionary process of a cyclical kind, coupling long and short run erndsto factors, both of which are determined by the dynamics of class conflict and income distribution.

Results of the Direct Production Process, a chapter of Capital written between andthough remaining unpublished until The subprime mortgage crisis broke out in the US several years later. Accumulazione del capitale e progresso tecnico: In this chapter I intend to scrutinize the present crisis by putting it in relation with some aspects of globalization and with the economic policies of the main countries that govern it.

On the other hand, the German government tends to implement restrictive fiscal policies by which wages are kept down. By focusing on widely defined consumption choices, the extent of an individual’s freedom is identified in the opportunity set delimited by his budget and time constraints.

In its subsequent historical evolution, capitalism has proved able to survive by changing its institutional forms while still keeping the fundamental institution intact. Retrieved from ” https: If mass consumption and investment did not grow enough, effective demand would shrink, GDP growth would slow down, the scrspanti budget deficit rise, and the government would be ernnesto unable to finance its huge military expenses.

The Chinese Communist Party wisely rejected the Soviet model of centralized state capitalism — a model that eventually resulted in a catastrophic failure. This is another way of saying that, through a global bubble, American big finance and government induced the rest of ednesto world to fund the expansion of home consumption and military expenses.

“Capitalism Towards an Uncertain Future”: An Interview with Ernesto Screpanti

New citations to this author. Economic and Social Sciences. The following articles are merged in Scholar.

What did initially draw you to the research on the general theory of capitalism? This ensured a certain degree of social peace and a check on labor costs. The answer is no.

Monthly Review | “Capitalism Towards an Uncertain Future”: An Interview with Ernesto Screpanti

The three classes perform different economic functions: Banks reacted by bloating shadow banking and redistributing risks with the securitization of their credits. Global imperialism and the great crisis: Could you please analyse this from your point of view? Realist approaches are based on some strong foundations concerning both ontology and epistemology.


On the other hand, there are cases in which socialist firms, such as self-managed cooperatives, screpamti property rights to assign control to the workers. A pure insider theory of hysteresis in employment and unemployment more. Since Europe is the greatest export market for the rest of the world, its stagnation is causing significant growth slowdown in many emerging and developing countries.

Ernesto Screpanti

This interview, originally published in Chinese Social Science Today n. So could you please talk about this in regards to your forecast for the future of American capitalism? In the s, a debate on modernism and postmodernism in economics was initiated that mainly involved postmodern critics of neoclassical economics McCloskey; Klamer nd; Amariglio; Rossetti ; Birken ; Dow a, b; Hargreaves Heap ; Amariglio and Ruccio nd, Marx, Engels and the political economy of freedom E Screpanti Springer Could you please comment on Chinese socialism with Chinese characteristics and the reform of Chinese state-owned enterprises?

Starting with the s this problem was taken care of through a convergence of interests of big finance and big government. Dall’astrazione naturale alla sussunzione formale, Quaderni del Dipartimento di Economia Politica, n. Consider that, because of the increasing German surpluses, Italy suffered an increasing current account deficit until Then I show that, in a society in which income is distributed more unequally than leisure time, a government aiming at leaving freedom distribution unaltered should apply progressive taxation.

Specifically, why is the fundamental institution of capitalism not, in general, the private ownership of the means of production, but rather the employment contract?

So could you please explain the essential differences in the institutional forms of the real capitalism of western countries and the ideal types of capitalism developed by Marx?